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vladimir2022 [97]
2 years ago
6

When reviewing a business communication, it is best to seek feedback from Multiple select question. random strangers, asking the

m for honest answers. business competitors. people who have demonstrated good judgment. respected colleagues.
Business
1 answer:
OLga [1]2 years ago
6 0
Yes. This is correct.
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On 12/31/X4, Zoom, LLC, reported a $55,500 loss on its books. The items included in the loss computation were $27,000 in sales r
IrinaVladis [17]

Answer:Ordinary Business income loss =-$20,500.

Explanation:

Ordinary business Expenses are the expenses generally accepted according to the  industry standards associated with running of a business.

Here, the ordinary business expenses for Zoom  include

cost of good sold= $19,-000

employee wages= $17,000

rent expense = $11,500 and therefore will be deducted from its sales revenue.

charitable contributions and qualified dividends, do not cut across all industries and so are not classified under Ordinary Buisness expences.

Ordinary Business income loss = Sales revenue - cost of good sold, -employee wages- rent expense.

$27,000- $19,000-$`17,000-$11,500= -$20,500. to be reported on its X4 return

6 0
3 years ago
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 8,000 pounds of oysters in Au
blsea [12.9K]

Answer:

$ 2,100.00 F

Explanation:

Preparation of the report showing the company's revenue and spending variances for August.

QUILCENE OYSTERIA

REVENUE AND SPENDING VARIANCES

For the Month Ended August 31

Actual Results Flexible Budget

Revenue and Spending Variances

Pounds 8,000 8,000

Revenue ($4.00q) $

35,200- $32,000 =$3,200 F

Expenses:

Packing supplies ($0.50q)

4,200-4,000=200 U

Oyster bed maintenance ($3,200)

3,100-3,200=100 F

Wages and salaries ($2,900 + $0.30q) 5,640-5,300=340 U

Shipping ($0.80q)

6,950-6,400=550 U

Utilities ($830) 810-830=20 F

Other

($450 + $0.05q) 980 -850=130 U

TOTAL EXPENSE

21,680 20,580 1,100 U

NET OPERATING INCOME

$ 13,520 $ 11,420 $ 2,100 F

(35,200-21,680=$ 13,520)

($32,000-20,580=$11,420)

($3,200-1,100=$2,100)

Summary:

Quilcene Oysteria

Revenues and Spending Variance

For the Month ended August 31

Revenue $ 3,200.00 F

Expenses:

Packing supplies $ 200.00 U

Oyster Bed Maintenance $ 100.00 F

Wages and Salaries $ 340.00 U

Shipping $ 550.00 U

Utilities $ 20.00 F

Other $ 130.00 U

Total Expenses $ 1,100.00 U

Net Operating Income $ 2,100.00 F

Therefore the company's revenue and spending variances for August will be :$ 2,100.00 F

7 0
3 years ago
Driving a motor vehicle is __________
uysha [10]
A privilege         

Good Luck! <span />
7 0
3 years ago
True or false:this represents a recommended practice for the estimation of a project's cash flows
Sauron [17]
This is answer could be true I think
7 0
3 years ago
Under a perpetual inventory system, when a shortage is discovered a.Merchandise Inventory is debitedb.Cost of Merchandise Sold i
eduard

Answer: d. Merchandise Inventory is credited

Explanation: merchandise Inventory is a current asset showing the cost of goods on hand and available for sale at any given moment in time and is continuously updated to reflect items on hand under the perpetual inventory system. Under the perpetual inventory system, the Merchandise Inventory account is debited and credited for each purchase and sale respectively. This effectively shows the current balance in the account at all time. However, during shortages, the Merchandise Inventory is credited.

5 0
3 years ago
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